LARSEN & TOUBRO BUILT its reputation as an engineering and construction company. But it is now a lot more than that, with a strong presence in heavy engineering, thermal power plants, defence, information technology, financial services, real estate and smart city projects. And the company is preparing itself for changes in the ecosystem.
S.N. Subrahmanyan, who succeeded A.M. Naik as chairman and managing director on October 1, said in his first letter to the staff that the world was going through massive changes and L&T must be ready for it. Subrahmanyan had been groomed by Naik for almost a decade to steer the company into the future. But that future could well be very different from what the company imagined a while ago. It is restructuring old businesses like financial services and thermal power plants, and embracing new areas like renewable energy and defence.
L&T continues to grow in its core engineering and construction space. Its order inflows last quarter surged 57 per cent to ₹65,520 crore and its order book stood at ₹4.12 lakh crore at the end of June 30, 2023, an all-time high. International orders comprised 42 per cent of total order inflows in the June quarter.
Renewable energy will be a big focus area in this next wave of growth. “Given the compulsions of dealing with climate change and fully aware of the responsibility to contribute to a sustainable planet, the company has identified areas to work around green energy both as a manufacturer of equipment as well as an EPC (engineering, procurement and construction) participant,” said R. Shankar Raman, chief financial officer of L&T.
Denne historien er fra October 15, 2023-utgaven av THE WEEK India.
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Denne historien er fra October 15, 2023-utgaven av THE WEEK India.
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A golden girl
One of India's most formidable beauties passed away earlier this month. The odd thing is she would absolutely hate this obituary; she hated being written about and avoided publicity for all of her nine decades. Indira Aswani was 93 when she died. But anyone who encountered her, even briefly, was in such awe of her grace and poise, and one could not but remember her forever.
The interest in wine is growing delightfully in India
The renowned British wine writer and television presenter Jancis Robinson, 74, recently came to Delhi and Mumbai to reacquaint herself with India's wine industry. This was the Robinson's fourth visit to India; the last one was seven years ago. On this trip, Robinson and her husband, restaurateur Nicholas Lander, were hosted by the Taj Hotels and Sonal Holland, India's only Master of Wine.
United in the states
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COVER DRIVE
Usage-driven motor insurance policies offer several benefits
GDP as the only measure of progress is illogical
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India is not a controlling big brother
Prime Minister Tshering Tobgay considers India a benevolent elder sibling as the \"big brotherly attitude\" is happily missing from bilateral ties. He thinks the relationship shared by the two countries has become a model of friendship not just for the region, but for the entire world. \"India's attitude is definitely not of a big brother who is controlling and does not allow the little brother to blossom and grow,\" says Tobgay in an exclusive interview with THE WEEK.
Comrade with no foes
Lal Salaam, Comrade Yechury-you were quite a guy!
Pinning down saffron
In her first political bout, Vinesh Phogat rides on the anti-BJP sentiment across Haryana
MAKE IN MANIPUR
Home-made rockets and weapons from across the border are escalating the conflict
SAHEB LOSES STEAM
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